As Bitcoin surged due to the U.S. Treasury's $10 billion buyback, Memecoins like Pepe, Bonk, and Floki became active. SPEPE's price rose over 10% but faced strong resistance; if it breaks through, it may continue upwards; SBONK is hovering near a key resistance level, and if it breaks through, it may rise; $Floki gained 17% but failed to break the resistance line, requiring continued market monitoring to determine if the trend reverses. Overall, market sentiment remains unstable.
As Bitcoin (BTC) soared in the wake of the massive $10 billion U.S. Treasury buyback, Memecoins sparked to life, leading this significant rise. Pepe (Pepe), Bonk (Bonk), and Floki (Floki) are the leaders.
SPEPE increased by 10%, but hit horizontal resistance
The 4-hour K-line chart of SPEPE shows how the price surged from the top of the bear flag but then the cryptocurrency market collapsed on Thursday. However, upon reaching $0.00001038, a strong rebound pushed SPEPE up over 10% from that bottom.
Now, against horizontal resistance, it is anticipated that the bull market will break through and shift prices to the downtrend line. A break there, followed by a high above $0.00001296, will put SPEPE back on track to continue the trend reversal.
Only failures below $0.00001038 may allow the bear market team to regain control.
SBONK SUGHE hit resistance plus the downtrend line.
SBONK is at its critical point. Horizontal resistance and the downtrend line are obstacles to further upward movement. That is to say, if the cryptocurrency market continues to gain on Friday and the U.S. stock market is not overly affected, SBONK may find itself above the resistance and trend lines by the end of Friday. However, bulls will need to push the price above the recent high to start breaking the downtrend at $0.0000181.
Sfloki experienced a peak of 17% but was rejected by the resistance/trend line
On Friday, $Floki indeed showed the highest trend among Memecoins, peaking at 17%. However, horizontal resistance at $0.000085 and the downtrend line are sufficient to prevent this bullish price movement.
If the bull market cannot push prices through resistance and the downtrend line, the downtrend will likely continue. However, a W pattern has formed, and with some positive market news, a trend reversal may begin. The last local high above $0.00009168 would be a good start.
